ChargePoint Holdings Inc [CHPT] Is Currently -2.93 below its 200 Period Moving Avg: What Does This Mean?

ChargePoint Holdings Inc [NYSE: CHPT] loss -2.93% or -0.06 points to close at $1.99 with a heavy trading volume of 9470881 shares. The company report on January 30, 2024 at 8:00 AM that New Data from ChargePoint Shows Pressure for More Charging Infrastructure Continues to Build.

ChargePoint’s Global Network Exceeds One Terawatt Hour in Energy Dispensed in 2023; Utilization Drastically Outpaced Growth in New Ports Worldwide.

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ChargePoint (NYSE: CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), today released new data that illustrates the growing demand for EV charging as passenger and commercial fleet EV sales continue to increase at a rapid rate, with EV sales hitting record high numbers in the U.S. last year. Across the ChargePoint network globally, there was a 53% increase in annual charging sessions, dispensing over 1 TWh of energy in 2023, a 70% increase year-over-year.

The daily chart for CHPT points out that the company has recorded -75.46% loss over the past six months.

If we look at the average trading volume of 19.75M shares, CHPT reached to a volume of 9470881 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ChargePoint Holdings Inc [CHPT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHPT shares is $3.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHPT stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for ChargePoint Holdings Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 07, 2023.

The Average True Range (ATR) for ChargePoint Holdings Inc is set at 0.19, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 0.95.

Trading performance analysis for CHPT stock

ChargePoint Holdings Inc [CHPT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.58. With this latest performance, CHPT shares dropped by -3.40% in over the last four-week period, additionally sinking by -75.46% over the last 6 months – not to mention a drop of -84.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHPT stock in for the last two-week period is set at 47.27, with the RSI for the last a single of trading hit 49.41, and the three-weeks RSI is set at 45.43 for ChargePoint Holdings Inc [CHPT]. The present Moving Average for the last 50 days of trading for this stock 2.1426, while it was recorded at 1.9840 for the last single week of trading, and 5.6020 for the last 200 days.

ChargePoint Holdings Inc [CHPT]: A deeper dive into fundamental analysis

ChargePoint Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.77 and a Current Ratio set at 2.34.

ChargePoint Holdings Inc [CHPT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, ChargePoint Holdings Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 23.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHPT.

An analysis of Institutional ownership at ChargePoint Holdings Inc [CHPT]

The top three institutional holders of CHPT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CHPT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CHPT stock with ownership which is approximately 5.8325%.